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Naudie, Christopher P. Osler, Hoskin & Harcourt LLP
(416) 862-6811 cnaudie@osler.com
Mr. Naudie practises corporate and commercial litigation, with a strong focus
on class action defence and regulatory enforcement, including competition,
securities, privacy & data security, insurance and other regulatory litigation.
He is Chair of the Criminal Matters Committee of the CBA (Competition
Law Section), and he has served as co-chair of Osler's National Class
Actions practice.
Nathanson, Andrew I. Fasken Martineau DuMoulin LLP
(604) 631-4908 anathanson@fasken.com
Mr. Nathanson's practice focuses on complex commercial litigation and
white-collar crime. He is Co-Leader of the firm's White Collar Defence and
Investigations group. He has acted for both the Crown and defence. He has
particular experience assisting corporations and individuals in responding to
criminal and regulatory charges, in some cases avoiding charges altogether.
Naiberg, Richard E. Goodmans LLP
(416) 597-4247 rnaiberg@goodmans.ca
Mr. Naiberg is an IP and litigation partner at Goodmans with extensive
experience in assessing and litigating patents, trademarks, trade secrets,
copyrights and industrial designs in the life sciences/pharmaceuticals,
software/electronics, mining, consumer goods and financial industries,
among others. He has been counsel on many of Canada's landmark IP cases,
including in the Supreme Court of Canada.
Nahmiash, Laurent Dentons Canada LLP
(514) 878-8818 laurent.nahmiash@dentons.com
Mr. Nahmiash's practice primarily consists of class action defence work,
as well as commercial and insurance litigation. He currently represents
numerous automotive and other manufacturers, and finance companies
in various consumer protection and product liability class actions. As well,
he is currently involved in various anti-trust, securities, auditor and D&O
class actions.
Musgrove, James B. McMillan LLP
(416) 307-4078 james.musgrove@mcmillan.ca
Mr. Musgrove is one of Canada's leading competition lawyers. He is past
chair of the CBA Competition Law Section and serves in the Leadership of
the ABA Section of Antitrust Law. He is editor of Fundamentals of Canadian
Competition Law. In 2014, he won the GCR Award for Behavioral Matter of
the Year – Americas for his successful defence of MasterCard before the
Competition Tribunal.
Morse, Jerome R. Morse Shannon LLP
(416) 941-5867 jmorse@morseshannon.com
Mr. Morse is a Fellow of the American College of Trial Lawyers. His practice
includes corporate and commercial insurance litigation, professional
negligence, medical negligence, product liability and personal injury. He is
rated by Lexpert® in commercial insurance, professional liability, medical
negligence, product liability and personal injury.
LEXPERT-RANKED LAWYERS
change (forex, or FX), gold, silver, and SSA bonds.
In June the Ontario Court of Appeal over-
turned a decision that had prevented class coun-
sel from adding two more defendants to the list:
TD Group and BMO. To date only the FX class
action has been certified, and for settlement pur-
poses only.
"ere was a fair amount of press reporting over
a period of time that indicated there were various
investigations into conduct into certain financial
institutions regarding benchmark products," says
Daniel Bach, a litigation partner at Siskinds LLP
in Toronto, one of the firms representing plaintiffs
in the benchmark class actions, in explaining how
the class actions originated. "We were contacted
by various investors, and then we conducted a
review of what was known to the market, to the
public, and commenced litigation."
e benchmark controversies began with the
Libor scandal in 2012, says David Sterns, a civil
litigator and partner at Sotos LLP in Toronto, an-
other firm in the consortium representing plain-
tiffs in the actions. e scandal originated with a
series of fraudulent actions connected to the Li-
bor (London Interbank Offered Rate), when it
was discovered that banks were falsely inflating or
deflating their rates in order to profit from trades.
"at attracted a lot of regulatory and class-
action interest," says Sterns. "You can probably
say that the regulatory action in the other coun-
tries … is what sparked the interest in bring-
ing class actions on behalf of investors in these
benchmark cases."
e allegations against the banks in the bench-
mark class actions that are currently seeking cer-
tification in Canada allege something akin to
price-fixing.
"ey're all price-fixing cases, against major do-
mestic and international banks," says Kirk Baert, a
partner at Koskie Minsky LLP in Toronto, a firm
in the consortium of firms representing plaintiffs.
"ey all relate to what I would call commodities:
foreign exchange, gold, silver. And the common
thread is the way they buy and sell these commod-
ities is not on the up and up. ey buy and sell in a
way [that is] to the detriment of their customers."
"YOU CAN PROBABLY
SAY THAT THE REGULATORY
ACTION IN THE OTHER
COUNTRIES … IS WHAT
SPARKED THE INTEREST
IN BRINGING CLASS
ACTIONS ON BEHALF
OF INVESTORS IN THESE
BENCHMARK CASES."
DAVID STERNS; SOTOS LLP
